Russia to increase defense spending by 17 % next year

November 24, 2011, 16:30 UTC+3Ivanov underlined that the increase in state allocations for defense purposes in 2012, 2013 and 20145 was significant

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MOSCOW, November 24 (Itar-Tass) — Deputy Prime Minister Sergei Ivanov said it is planned to spend 1.109 trillion roubles to purchase armaments and special equipment for the armed forces in 2012. Ivanov said so at a meeting of the Military-Industrial Commission under the government on Thursday.

"It is planned to allocate 1.109 billion roubles to supply armaments and military and special equipment to the armed forces next year, a 17-percent increase from 2011. Almost four trillion roubles will be spent to purchase batches of new and modern equipment within the next three years," Ivanov said.

Ivanov underlined that the increase in state allocations for defense purposes in 2012, 2013 and 20145 was significant.

In absolute figures, it is planned to allocate 1.760 trillion roubles for defense procurements in 2012, 2.236 trillion roubles in 2013, and 2.625 trillion roubles in 2014, according to the deputy prime minister.